Whilst working debt is manageable

warpfactor7

My discussion title says it all……
I am 70 and still working to service my debt. I was scammed from a crypto fraud and now they have vaporised. I have just short of £40k debt, all unsecured. Comprising of credit cards and a bank loan. I have always paid my way and my debt. I seem to get tired easily these days. My pension is not brilliant either. Should my work stop, I am up the creek financially. I would like to stop. What are my options open to me please. I worry greatly about all of this when I should be enjoying life at my age.

RAS

We need a bit more information to help you, please.

Housing, mortgage, owned, rented, social rented?

Personal. Married or partnership, currently single, living with anyone who shares financial accounts?

stu12345_2

yes more info is needed from you,

especially  your housing situation.

but if I was to guess an answer,and I had no assets, I would give up work, tell the creditors you only have a state pension and( perhaps a little private pension) , but it is all used for living expenses , and you have none leftover to repay debts.

and thus my income will never increase, thus ask them to  write off my debts.

and then enjoy life, retired and not working at 70

have you reported the scam to action fraud with as much info as you can

I also assume you borrowed for the crypto scam and you had a stocks and shares trading  account.

cos crypto cannot be put into a private SIPP pension or stocks ISA in the UK, the regulator won't allow it.

only via a stocks and shares trading accounts such as trading 212 or plus 500
, cos eg the collapse of ftx crypto exchange still means customers are getting all their money back though 

or did you use a fake website or trading exchange 

stu12345_2

if you did report it to action fraud, how far did you get?
https://www.actionfraud.police.uk/campaign/over-27-million-reported-lost-to-crypto-and-forex-investment-scams

warpfactor7

Thank you so much for your valued comments and support. It is both heartwarming and motivating for me.
I now live in a Park Home on a residential site that I own outright. Not the best home, but I own it thank you.
Yes, my borrowings (all unsecured) were made to fund the scam financial rainbow I was foolishly chasing.
I am widowed and live alone. I do not share any financial interests, living fees or debts with anyone.
A nice lady to share my life with has alluded me.
Yes, I did report the scam, but they are long gone unfortunately.

Kindest regards

sourcrates

In that case, if you were to stop paying these debts, not a great deal would likely happen.

Once you inform the banks involved you were victim to a scam, quote them the crime number, and tell them the payments are just unaffordable, that would more or less be it.

Credit cards and bank loans are all non priority debt, the lenders would likely write them off to fraud, or not expect you to pay because of your inability to afford payments, one or the other.